Goodwill Intangible Assets

12 Months Ended

Oct. 28, 2011

Goodwill Intangible Assets [Abstract]

8.	Goodwill and Intangible Assets

The gross carrying amount and accumulated amortization of our intangible assets other than goodwill as of October 28, 2011 and October 29, 2010, were as follows:

		October 28, 2011					October 29, 2010
In thousands	Weighted Average Amortization Period	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Finite lived other intangible assets:
Engineering drawings	8 years	$	2,900	$	(2,537	)	$	2,900	$	(2,054	)
Customer relationships	18 years		181,700		(25,536	)		105,200		(18,323	)
Backlog	1 year		11,224		(8,317	)		7,295		(7,127	)
Non-compete agreements	5 years		5,800		(5,409	)		5,800		(4,403	)
Patents	19 years		91,218		(10,141	)		21,206		(7,964	)
Unpatented technology	20 years		32,836		(897	)		1,236		(335	)
Subtotal	18 years		325,678		(52,837	)		143,637		(40,206	)

Indefinite-lived other intangible assets:
Trademarks			112,600		-			75,400		-

Total other intangible assets		$	438,278	$	(52,837	)	$	219,037	$	(40,206	)

The increase in finite lived intangible assets, trademarks and goodwill in fiscal 2011 is due to our acquisition of LeTourneau on June 22, 2011.

Changes in the carrying amount of goodwill in 2011 and 2010 are as follows:

In thousands	Underground Mining Machinery			Surface Mining Equipment		Consolidated

Balance as of October 30, 2009	$	117,874		$	9,858	$	127,732

Translation adjustments and other		(2,737	)		691		(2,046	)

Balance as of October 29, 2010		115,137			10,549		125,686

Goodwill acquired during the year		-			301,228		301,228

Translation adjustments and other		567			997		1,564

Balance as of October 28, 2011	$	115,704		$	312,774	$	428,478

Amortization expense for finite-lived intangible assets was $12.6 million, $8.2 million and $9.3 million, for fiscal 2011, 2010, and 2009, respectively.

Estimated future annual amortization expense is as follows:

In thousands
For the fiscal year ending:
2012	$	19,583
2013		15,618
2014		15,586
2015		15,556
2016		15,482

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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